<\/p>\n
- \n
- A look at why Injective is currently attracting attention courtesy of this upcoming launch.<\/em><\/li>\n
- INJ rallies but the bears may have the last laugh as the weekend rolls in.<\/em><\/li>\n<\/ul>\n
The Injective blockchain<\/a> just experienced a burst of social dominance in the last 24 hours. It happens to be the highest social dominance surge in the last 30 days and the reason for the spike is quite interesting.<\/p>\n
\nIs your portfolio green? Check out the Injective Profit Calculator<\/a><\/p>\n
\nInjective\u2019s native cryptocurrency INJ was among the best-performing coins so far in 2023. Social Dominance is an interesting metric because it lets us see which projects and protocols are receiving attention and visibility. In this case, it was safe to say that Injective, at press time, was enjoying the spotlight as its Social Dominance bounced to a new monthly high.<\/p>\n
What\u2019s the driving force for Injective\u2019s social dominance spike?\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/h4>\n
We explored the potential reasons for the excitement regarding the Injective protocol. The overarching reason for this observation was the launch of the Helix DEX<\/a>. The latter will roll out on the Injective blockchain and will reportedly offer pre-launch futures for popular token markets prior to the official rollout.<\/p>\n
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Helix is introducing pre-launch futures with the release of the first @CelestiaOrg<\/a> $TIA<\/a> token markets.<\/p>\n
This marks a significant milestone, providing all traders with equal opportunity to access popular token markets before their official launch!<\/p>\n
\ud83d\udc49 https:\/\/t.co\/aiUpgvKjfa<\/a> pic.twitter.com\/17eq3cldsb<\/a><\/p>\n
\u2014 Helix \ud83e\uddec (@HelixApp_) October 18, 2023<\/a><\/p>\n<\/blockquote>\n
It can be argued that the futures were the main reason for the excitement. This was because they are derivatives types of investment avenues that offer easy entry and exit into a particular type of asset.<\/p>\n
The demand for futures in the crypto environment has been rising and thus the buzz about the upcoming launch. We could see a strong uptick in the Helix DEX based on the above argument. Hence, the new-found excitement that manifested as Injective\u2019s Social Dominance spike.<\/p>\n
Assessing the impact on INJ<\/strong><\/h4>\n
Injective\u2019s native coin INJ has been rallying in the last seven days, by over 11% to its $8.15 press time price level. The cryptocurrency was up by over 3% in the last 48 hours, reflecting strong demand revolving around the Helix DEX.<\/p>\n
![\"Injective](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/INJUSD_2023-10-19_02-05-26.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
- INJ rallies but the bears may have the last laugh as the weekend rolls in.<\/em><\/li>\n<\/ul>\n
![\"INJ](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Injective-INJ-02.25.36-19-Oct-2023.png\")